Lighting Questions for tropical aquarium with live plants, HAGEN FLUVAL 24" Glo T5 HO

Hello,
I am new to this forum and this is my first post.

I got my old 20 gal. long aquarium out of the closet after over 20 years and stocked it with several tropical fish and live plants.
I hope to upgrade to a 30 gal. soon.
I have a standartd flourecent bulb under a typical starter aquarium hood.
Is this enough for live plants?

I went to a new PetSmart in our area and saw (for the first time) the
HAGEN FLUVAL 24" Glo T5 HO lighting system for about $100.
It caught my eye and, even though I can hardly afford it, it seems like a must-have.
Now I feel as though my single little flourecent bulb under a plastic hood with simulated wood grain finish isn't going to be good enough.
What's the deal with lighting? Do I need a hundred-dollar light to keep my plants healthy?

Also, I use a bubble wall along with my Power Filter. Do I need a CO2 pump?

Thanks,
CharlesRoland

4 Zebra Danios
2 Leopard Danios
5 Black Skirt Tetras
2 White Skirt Tetras
6 Lamp-Eye Tetras
2 Algae Eaters
1 Blue Mystery Snail

 

Oh, one more thing..

Do you think my 20 gal. tank is overstocked?
If I upgrade to a 30 gal. will that be enought? Or am I fine with the 20 gal?

Thanks,
CharlesRoland

 

Welcome aboard. I wish I could help you, but I dont know much about FW. AS for the lighting, anything is better than the lighting that comes stock with tanks. $100. doesnt sound bad.